Friday , 22 March 2019
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Business

Government of Ghana to meet investors this week to test Eurobond demand

Ghana will meet investors later this week to gauge appetite for its proposed sale of as much as $3 billion in Eurobonds, according to two people familiar with the matter. Officials will organize meetings in Boston, New York and London from Wednesday, said the people, who asked not to be identified because they’re not authorized to speak publicly about the …

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3 German firms setting up factories in Ghana

Three leading German companies have indicated their intention to set up factories in Ghana to boost the local economy. The decision to invest in Ghana was announced during the successful 3rd German-African Business Summit (GABS) held last month in Accra. The three firms are B-Braun, providers of healthcare solutions; Knauf, manufacturers of building materials and Lapp Group, a Stuttgart-based provider …

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Ex-UT, Capital bank staff to meet GCB management over contract termination

Ex-workers of defunct UT and Capital Banks are scheduled to have a meeting with the management of GCB Bank over the termination of their contracts. Overall, 56 ex-staff of the banks were affected after the GCB Bank said they did not possess the minimum qualification required to work with the bank. Although the workers have threatened to petition President Akufo-Addo …

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‘Payment Systems and Services Bill’ to be passed in June – BoG

The Bank of Ghana(BoG) says it is confident that works on the Payment Systems and Services Bill being done by parliament will be completed by the end of June this year. The Payment Systems and Services Bill has been in parliament for about 2 years. When passed into law it is expected to further strengthen the regulatory environment and provide …

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We’ve not abandoned Ayensu starch factory – Management

The Management of Tiberias Ghana Limited, majority shareholders of the Ayensu Starch factory has rejected claims that it has abandoned the facility. The company in a statement said it has gone to great lengths to ensure that the plant is running after it took over the factory in 2016. “So far, Tiberias has invested over 20 million in retooling and …

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Ghana seeks $750 million loan from StanChart, Standard Bank

Ghana is in talks with Standard Chartered Plc and Standard Bank Group Ltd. for a bridge loan of $750 million and will repay the facility with the proceeds of a Eurobond sale. The finance ministry listed the proposal for a syndicated loan in Friday’s parliamentary order papers and said it is intended to “fund or refinance development projects and for …

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Civil Aviation Amendment bill passed to make Ghana ICAO compliant

Parliament has passed into law an amendment of the Ghana Civil Aviation Act to further improve safety and strengthen security in the aviation industry. The amendment is to ensure that Ghana is ICAO (International Civil Aviation Organization) compliant. According to Joseph Kofi Adda, the Aviation Minister who moved the motion for the adoption of the bill on Friday, the sector …

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EU clears Ghana from ‘dirty money’ blacklist

European Union (EU) member states have unanimously rejected a proposal by the EU Executive Commission (EC) to blacklist 23 countries, including Ghana and territories, it believes pose a high risk of money laundering or terrorist financing. According to the EC, the countries were placed on the blacklist for having strategic deficiencies in their anti-money laundering and counter-terrorist financing frameworks. In …

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Stanbic Bank adopts Hakeem, 2 others and invests GHC 50,000 in streetism

Stanbic Bank has offered to support the 13-year-old street boy, Abdul Hakeem Alhassan Aremeyaw, who returned to the streets of Accra after having won an essay competition and represented Ghana in China. The support will see the brilliant boy further his education in an environment which will enable him to realise his dream of becoming a pilot. In addition, the …

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Bank of Ghana not injecting $800m to support cedi – Isaac Adongo

Financial analyst and Member of Parliament for Bolgatanga Central, Mr Isaac Adongo, says it is not true that the Bank of Ghana is injecting $800 million into the economy to help stabilise the ongoing depreciation of the cedi against its major foreign counterparts. In an expansive article on the recent depreciation, the MP said it was “misconception” for people to …

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